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The Fiscal Crisis in State Government – And What Should be Done About It

While the federal deficit captures the news headlines, there is a deep and pervasive fiscal crisis in state finance.

Who Lost Europe

Financial meltdown has been averted in Europe ? for now.

Consumer Response to Cigarette Excise Tax Changes

We use a rich dataset of weekly cigarette sales to examine how consumers adapt their behavior before and after excise tax increases - whether by reducing demand, stockpiling, traveling to low-tax juri

Are Leading Indicators of Financial Crises Useful for Assessing Country Vulnerability? Evidence from the 2008-09 Global Crisis

This paper investigates whether leading indicators can help explain the cross-country incidence of the 2008-09 financial crisis.

Diagnostics Before Prescription

Development economists should stop acting as categorical advocates (or detractors) for specific approaches to development.

A Comparison of Monetary Anchor Options for Commodity-Exporters in Latin America and the Caribbean

Throughout, the history of the Latin America and Caribbean (LAC) region, natural resource wealth has been critical for its economies.

Greek Lessons for the World Economy

The $140 billion support package that the Greek government has finally received from its European Union partners and the International Monetary Fund gives it the breathing space needed to undertake th

Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes

A new technique for estimating countries’ de facto exchange rate regimes synthesizes two approaches.

Making Room for China in the World Economy

Causes of the Financial Crisis: Many Responsible Parties

This analysis argues that blame for the financial crisis falls specifically and heavily on a broad range of the private players and public regulators in our financial sector.